Wealth Artisanhttps://wealthartisan.com
Make money. Save money. Start a business. Simple.Tue, 18 Jul 2017 20:55:19 +0000en-UShourly1https://wordpress.org/?v=4.8.1https://wealthartisan.com/wp-content/uploads/2010/04/cropped-fleur-32x32.jpegWealth Artisanhttps://wealthartisan.com
3232All Rights Reserved, WealthArtisan.comFinance,Fun,Business,Entrepreneur,Christian,Entertaining,Money,Income,Saving,Frugal,SpendingSociety & CultureThe Wealth ArtisannoFinance,Fun,Business,Entrepreneur,Christian,Entertaining,Money,Income,Saving,Frugal,SpendingThe Wealth ArtisanFinance doesn't have to be boring. We try to take a fun, quirky approach to finance, and financial planning with a little touch of Christian lifestyle.Subscribe with My Yahoo!Subscribe with NewsGatorSubscribe with My AOLSubscribe with BloglinesSubscribe with NetvibesSubscribe with GoogleSubscribe with PageflakesSubscribe with PlusmoSubscribe with The Free DictionarySubscribe with Bitty BrowserSubscribe with Live.comSubscribe with Excite MIXSubscribe with WebwagSubscribe with Podcast ReadySubscribe with WikioSubscribe with Daily RotationThanks for subscribing, you're the best!Is the PayPal Money Adder a Scam? What You Need to Know About the PayPal Money Generatorhttps://wealthartisan.com/paypal-money-adder/
https://wealthartisan.com/paypal-money-adder/#respondSat, 24 Jun 2017 03:10:36 +0000The Wealth Artisanhttps://wealthartisan.com/?p=10626Recently, I read about someone who was having a lot of financial difficulties and how they needed money to help their sick relatives. They discussed a tool they used called the “PayPal Money Adder.” I was intrigued. Naturally, this sounds like a complete scam. In the comments, other people chimed in talking about this tool, […]

]]>Recently, I read about someone who was having a lot of financial difficulties and how they needed money to help their sick relatives. They discussed a tool they used called the “PayPal Money Adder.”

I was intrigued. Naturally, this sounds like a complete scam.

In the comments, other people chimed in talking about this tool, some referring to it as the “PayPal Money Generator.” Some said it existed and that they used it, others called it a scam or a hoax.

But what is the truth behind the PayPal Money Adder?

What Is The PayPal Money Adder?

Based on the descriptions I’ve read, the PayPal Money Adder is an application that is able to add money to your PayPal account for free. Free paypal money! What could be better? Based on the claims of others, they state that it does nothing fraudulent and simply adds money to your PayPal account. They also claim that it is perfectly legal.

So, let’s break these claims down. People claim that the PayPal Money Generator:

Creates money out of thin air.

Sends it to your PayPal account.

It doesn’t take the money from anyone else.

It doesn’t steal money from any banks, or from PayPal themselves.

It is completely legal.

In short, it gives you “free PayPal money.” It also seems to be called a number of different names including:

PayPal Money Generator

PayPal Money Adder

PayPal Monkey Generator

Is There Any Proof that the PayPal Money Adder is Real?

Besides people claiming it is real, is there any proof that it exists? Based on the comments from the articles I’ve read, there is dubious proof at best. The most I’ve seen are screenshots of the supposed application. Here are a few:

I was unable to find any legitimate download links, and I found a few websites purporting to be web app versions of the PayPal Money Generator, which are really just ways to trick people into completing surveys.

People have even gone through the trouble of creating videos of these “tools” in action. Some of them are undoubtedly just tricking you into filling out surveys so they earn money, and they others are obviously just fake videos to keep this online meme going. Here is one example video:

Is the PayPal Money Adder Real? Can I Really Get Free PayPal Money?

There is no question in my mind that the PayPal Money Adder is completely false. At the very best, it’s a joke that is being played on people, at its worst, it is used to defraud people of their money.

Make no mistake: the PayPal Money Generator is a hoax.

You should not download, install, or use any website that purports to be a “PayPal Money Adder.” You very well could lose money, or have your identity stolen by putting information into any tool that claims to be a PayPal Money Generator.

Why Do I Think the PayPal Money Generator is a Scam?

The Problem with Making Money from Nothing

There are few entities in the world that can conjure money out of thin air. Regular people, and software applications made by regular people are not part of that club. Therefore, if an application is able to just put money into your account, it’s safe to assume that something illegal is going on.

The only things I can think of that would allow this are money being stolen from other people, or money being stolen from PayPal. Luckily, because this is a hoax, I don’t think either of these things are the case.

The Application Screenshots

There are so many different screenshots of the application, they all look very different, and they’re all made by different people.

The Details of How The PayPal Money Generator Works

There are absolutely no details at all about how the application works. Surely, if someone figured out how to generate money from nothing and put it into your account, there would be some explanation about how the application does it. There are no explanations, and all of the articles and screenshots treat the software like a black box.

There Are No Reputable Websites Discussing The PayPal Money Adder

If an application this life-changing existed, surely some reputable websites would have discussed it. Instead, the only resources I can find regarding it are websites trying to trick people into making them money, a few articles by confused people hoping it exists and some forum posts.

PayPal’s Response

So, I decided to contact PayPal regarding this particular issue. I was assured that anyone claiming to give you “free PayPal money” is either lying, or trying to defraud you. They said there are no applications that can just “add money to your PayPal account” and to not trust anyone or any application claiming that they can do this for you.

The Final Verdict: Is the PayPal Money Generator Real?

No. No it is not. In fact, I’m a bit disappointed that I even had to write this article. Unfortunately, there are a lot of desperate people out there, and many people want push button solutions to their problems. The PayPal Money Adder / PayPal Money Generator / PayPal Monkey Generator is fake. It’s a hoax. The PayPal Money Adder is a joke. It’s a scam. That is it. Plain and simple. PayPal has even stated it does not exist. Don’t fall for it. It’s a scam.

How Can I Avoid More Scams?

I know it seems impossible. Every time you turn around, there is a new scam to watch out for. So, how can a person avoid scams? I highly suggest reading a book that was put out by AARP called “Outsmarting the Scam Artists: How to Protect Yourself From the Most Clever Cons.” Not only does the book contain real stories from people who have been scammed, but it also includes interviews with con artists who have scammed people and they reveal some of their secrets so you can learn from them.

I also have numerous business ideas you can use, and I don’t charge a dime for any of this information. It’s all free for you to use to better your life. The PayPal Money Adder might be a hoax, but there is always hope for making money to get yourself out of some tough situations. Good luck!

]]>https://wealthartisan.com/paypal-money-adder/feed/0Dividend Investing: Do These Fears Prevent You From Investing?https://wealthartisan.com/dividend-and-conquer/
https://wealthartisan.com/dividend-and-conquer/#commentsSun, 19 Mar 2017 12:00:06 +0000The Wealth Artisanhttp://wealthartisan.com/?p=1460It’s no secret, dividend stocks are in high demand for the income they generate, but what is stopping you from dividend investing? Today, we’re going to discuss why you should invest in dividend stocks for your income plans. Dividend investment is attractive for multiple reasons: They are passive income. Dividends are generally taxed at a lower rate, […]

While banks are only paying about .10% on your savings accounts and .5% on your CDs, you can find dividend paying stocks all day long yielding 3-4%. Yes, that isn’t the most stellar return, but it’s far better than the half percent your bank is willing to pay.

Fear 1: Market Volatility & Dividend Stocks

If you’re afraid to risk your principal in the stock market, then your immediate reaction is intelligent.

You should never jump into something that you don’t understand, but that doesn’t mean you should stay away forever, it means that you need to learn more about the market, and that’s what you’re doing right now!

Don’t lull yourself into a false sense of security, because your money is in a CD. If your CD is yielding .5%, then you’re losing money.

At a normal rate of 3% inflation, you’re losing 2.5% in principal each year. The deceitful part of this is the number in your account never changes, in fact it goes up slightly, how could you be losing money?

There is nothing safe about leaving your money in a low yielding CD. It just guarantees a more predictable erosion (assuming inflation doesn’t go haywire) of your principal.

Bank Accounts Make You Poorer

Buy and Hold is Eternal

Fear 2: Not Being Paid Dividends

You might be concerned about not being paid the dividends you’re owed. Each company has a board of directors and they must approve and declare the dividends that will be paid out, if any.

You might be concerned that you will buy a stock, then the company will choose not to pay dividends. That is why you pick companies with a good track record.

If you pick a company from these lists, then you’re pretty-well guaranteed a payout. There is more to dividend investing than simply picking a stock off of those lists, but just know that it isn’t as risky as you may fear.

Learn More About Dividend Aristocrats

What Makes Dividend Stocks so Great?

Besides the reasons listed above, it is generally easy to do. Yes, there is a lot to know, but it doesn’t have to be terribly complicated.

You pick a company you like, with:

a good track record

solid financials

a decent price.

It won’t require a constant concentration on the daily fluctuations and nuances of each bad news day.

When there are fluctuations, you generally just ride them out & look for buying opportunities.

You repeat the process to build your portfolio

Stocks that pay dividends tend to enjoy steady payouts and a gradual appreciation of stock price. I like to reinvest the dividends as this has the same effect as compounding interest in a bank account.

Now, Dividend and Conquer!

Dividend paying stocks can be an excellent method for growing your savings and income, but they are useless if you’re afraid of them. Learn as much as you can, get out there, and conquer your finances by including dividend stocks in your portfolio.

]]>https://wealthartisan.com/dividend-and-conquer/feed/24Passive Income: It Can Work For You! Our 8+ Year Passive Income Experimenthttps://wealthartisan.com/passive-income-it-can-work-for-you/
Sat, 18 Mar 2017 17:13:00 +0000The Wealth Artisanhttp://wealthartisan.wordpress.com/2010/04/06/passive-income-it-can-work-for-youUpdated 03/18/2017: Added more details and updated our passive income experiment with new results! In 2009, we wanted to test some of our theories on passive income, but we wanted to do it differently than creating a stock portfolio and leaving it. We settled upon the idea of writing articles for a website and watching the […]

Updated 03/18/2017: Added more details and updated our passive income experiment with new results!

In 2009, we wanted to test some of our theories on passive income, but we wanted to do it differently than creating a stock portfolio and leaving it. We settled upon the idea of writing articles for a website and watching the income that came in from the advertising. Before we get to the experiment, let’s talk about passive income.

What Is Passive Income?

Passive income is money that you earn with little or no input from you beyond setting the asset up. Example of passive income include:

Stock Dividends

Interest on Savings and CDs

And a method that I did an experiment with (detailed further below)

Passive Income is the Secret the Average Person Doesn’t Know

When people think of income, they think of jobs. Lots of people think that the only way to achieve true wealth is through get rich quick schemes. Here is the secret about them: THEY DON’T WORK. Wealth is a slow accumulation barring the occasional lotto winner. What you can do is EARN passive income, and use that money to earn more for you (perhaps start a business?). It starts out with a trickle of passive income, but can turn into an all out tidal wave if you do it correctly!

How Do Most People Treat Their Income?

Many people get units of money (Paychecks, Rent Payments, Etc.) and they immediately allocate it for some sort of spending. What this has effectively done is killed the earning power of that money. Had that money been placed into a CD, a bond, or some other investment vehicle it would have been given an infinite, essentially, earning potential. Your dividends and your interest would then be considered your passive income (because you didn’t have to do anything to earn it).

How Do You Build Passive Income?

This sounds easy and simplistic, but some of those steps will be very difficult. You probably won’t be able to invest a lot of money either. That’s OK! Don’t worry about dumping huge sums of money into an investment. Even a few dollars here and there will add up. That’s how apps like the Acorns investment app manage investment:

Passive Income Experiment 8 Years Later

In 2009, we started an experiment where we signed up for Hubpages, which is an article writing website. We wrote about 50 articles and have left them. Update as of 2017, those articles have earned us over $550!

Passive Income Earnings Screenshot

Here is a screenshot of the Hubpages Earnings section for proof:

I would’ve provided a screenshot of the “Lifetime Earnings” according to Hubpages, but their data cut off at 2013. They reliably make us between 30 and 50 cents a day, currently. There were some lulls where the income would die down, but the average over the 4 years comes out to about 20 cents a day. Yeah, I’m not retiring from this income, but I haven’t published anything on the account in years. It just keeps earning money. It didn’t cost us a thing to start the account up, and we have now earned hundreds in passive income, and will continue to earn that money! We can then take the earnings and invest them (which we do, in other business ventures).

This compounds our passive income. When you can take passive money that you’ve really done nothing to earn, and invest it, you are going to begin to build that tidal wave of money. When you take your passive income and spend it – you’ve made that tidal wave into a bucket of water and dumped it on yourself, and that is not nearly as impressive!

]]>Do You Manage Multiple Websites? Why I Chose a Suite of Tools Like Post Promoter Pro over CoSchedulehttps://wealthartisan.com/coschedule/
https://wealthartisan.com/coschedule/#commentsSat, 04 Mar 2017 04:20:23 +0000The Wealth Artisanhttps://wealthartisan.com/?p=10563/Understanding Solopreneurs Many readers of Wealth Artisan are what you would call “Solopreneurs.” They wear all of the hats in their business: CEO Author Product Creator Marketer …and far too many other titles for me to list right here. The Problem I Had Imagine my delight when I was doing some work for my business […]

Understanding Solopreneurs

Many readers of Wealth Artisan are what you would call “Solopreneurs.” They wear all of the hats in their business:

CEO

Author

Product Creator

Marketer

…and far too many other titles for me to list right here.

The Problem I Had

Imagine my delight when I was doing some work for my business and realized what the problem was that had long plagued me:

I have way too many projects and far too little time.

I know: not exactly ground-breaking stuff, but when you’re staring into the bark of a tree, it can be hard to see the rest of the forest.

When you’re staring into the bark of a tree, it can be hard to see the rest of the forest.Click To Tweet

I’m doing too much, just like all of my readers. I had content that needed to be written, emails that needed to be responded to and social messages that needed to be sent out. I needed tools that would allow me to:

Schedule my social media postings easily

Help me plan my content

Allow me to see everything that is happening in the weeks ahead.

Easily integrate with other tools that I always use.

I Needed Better Content Management Solutions

For years, I’ve used services like Hootsuite and Buffer off-and-on. There was always one reason or another that I would eventually stop using those services.

Don’t get me wrong, those services are really fantastic, but they always lacked something or charged too much for what I needed. I love Buffer, but they don’t allow me to manage my editorial calendar, and that’s fine, because they don’t want to do that. Buffer wants to be good at one thing and that is scheduling posts to social media platforms. And for that they do a great job.

I Knew What I Needed, Just Not Who Offered It

I needed a solution that would allow me to centralize all of my text based content creation. I was looking for something that would allow me to better schedule my time. I’m constantly working on multiple projects and it makes it really hard to focus on one thing in particular.

There are about a billion tools out there that can accomplish some portion of my requirements. I found a few options that were available to me.

My Requirements for a Solution:

It needed to allow me to plan content for multiple sites (preferably in one place).

Social Media Scheduling.

Google Docs Integration.

Content editing in one place for multiple sites.

Basically, I wanted to plan, manage and promote content from multiple websites in one place without having to log into the WordPress admin areas.

The Results

Before I launch into the results, I want to be fair to CoSchedule. Not everyone is as technical as I am. I also needed very specific things and fell into, what I believe is, a hole in their pricing model. Their support was superb and responsive. I believe the majority of people will probably be served well using CoSchedule. I think it just fails for people who are in my situation.

Features and Flexibility

I ultimately chose my own cobbled together solution over CoSchedule. Both my solution and CoSchedule fail in the same place: they both require me to log into each website’s admin area to edit content. My solution, however, offers way more flexibility and options. For example, I can batch upload my articles if I want. I can also centrally update all of my WordPress installs, plugins and themes. This is a huge time saver that I didn’t even consider when I began this journey. My solution requires a few services and plugins:

Centralizing Everything:MainWP Plugin – Free or $340 (with coupon). I bought the full suite for $340 even though it wasn’t required.

Social Media Posting: I use two plugins and Buffer, but Post Promoter Pro on its Own is more than enough for most people.

The Costs

My solution handles pretty much everything else for far cheaper. I run a lot of websites. Using 4 sites as an example, I would need 4 calendars from CoSchedule. Also, I need the Google Drive integration. That doesn’t apply account-wide though. I have to get the integration for each calendar which means that I need to get their $30/month plan for each website. This comes out to $120/month. My solution, on the other hand, required pretty high upfront costs, but really low monthly costs and the costs don’t change based on the number of websites you own (except for perhaps Buffer, but that’s easily resolved by adding a 2nd $10/month account). Here are some charts to further illustrate:

Chart: Monthly Costs for 1 Year – 4 Websites

Chart: Monthly Costs for 1 Year – 8 Websites

Chart: Cumulative Costs Over 2 Years – 4 Websites

Chart: Cumulative Costs Over 2 Years – 8 Websites

Detailed Reviews

Option 1: CoSchedule

Quick Summary of CoSchedule:

For those who don’t want to read the whole analysis, CoSchedule is a great tool in my opinion, but way over priced for people like me. If you have one website, it’s an OK value. If you run multiple websites, then their pricing scales horribly, and doesn’t offer the value you probably need. You quickly realize that this tool is either meant for people running a single blog, or enterprises that can afford multiple hundreds of dollars to thousands of dollars each month. I unfortunately fell in the middle, and CoSchedule clearly misses the mark on the middle market.

What Is CoSchedule?

CoSchedule is a pretty neat tool. I was impressed with all of the offerings they had while I was reviewing their feature list. It would allow me to plan all of my content in one place, it would allow me to schedule all of my social postings, and it would allow me to easily visualize everything all in one place. On top of that, CoSchedule integrates with other services that I use such as Google Docs and allows you to edit content all from one place!

For me, CoSchedule is a content management and distribution platform. What do I mean by “for me?” Because CoSchedule is flexible, it can do many things. For me, it allows me to centrally plan my content and schedule social media postings to promote my content. They also have a Chrome browser extension that allows you to easily curate content that you find and schedule it to your social networks.

Centralizing Blog Management

I wanted something that could centralize my online activities but also something that would sit inside of a single WordPress installation. That was the hard part of my requirements. If I’m managing multiple websites, I want to be able to log into one of those websites, see my editorial calendar but still have access to see all of the content on all of the other parts of my business.

Unfortunately, CoSchedule doesn’t do that. It only syncs with a single calendar in your CoSchedule account. This isn’t much better than the free WordPress editorial calendar plugin that is currently available. It does let you easily see all of your websites’ editorial calendars in the CoSchedule.com dashboard, but you can’t publish content to them from inside CoSchedule. You have to be taken to each website’s dashboard.

Social Media Posting

This is one of the areas that CoSchedule does really well. It allows you to schedule posts easily across multiple networks for multiple sites. They do it well, but it’s not much easier than Buffer which I already use. It is a bit more seamless than buffer because it is centered around promoting your content. Buffer is less focused in this respect.

Google Docs to WordPress

If you write content in Google Docs, then you know how horrible it can be trying to turn that document into a WordPress post. Sure, you could simply copy and paste the article, but take a look at the HTML. It is awful. Google Docs fails so hard when it comes to clean HTML. I don’t know why, I probably never will, but it is terrible.

Lots of inline styles are added to your HTML and it makes for a nasty experience. I didn’t get to test out CoSchedule’s implementation because I quickly realized how much my monthly costs were adding up. The fact that they have it though, tells me they know there is a problem with how Google Docs handles HTML. In order to get this integration, you have to at least be on their $30/month plan.

Editorial Calendars

This is the central reason that CoSchedule exists. They centralize your editorial calendars. They do a good job of this, but if you run multiple websites, be prepared to hurt. Their pricing plan does not care at all about how much business you give them until you’re into their agency plans.

Analytics Reporting

It has an analytics dashboard that integrates with Google Analytics. I think this is a pretty cool feature, but I’m already always inside Google Analytics and Buffer (although, Buffer’s reporting is pretty lame on the $10/month plan).

CoSchedule Support

Their support team was nice and responsive. I’m not sure if it was a fluke for me or not, but I didn’t get a response over the weekend. My guess is that their support people get the weekend off. I don’t really care about that. I’ll gladly wait 2-3 days for a support request to be answered if it means a company is treating their employees well. I feel the same way about holidays. If a company is working employees on holidays, it lowers my opinion of that company.

Pricing

For a single website, or an agency, I think CoSchedule can be a great value. I expect all tools to have a semi-steep initial cost, but then have the costs taper off for the more business you bring them. I think $30/month for one site is perfectly acceptable. Once you add in multiple sites, then I expect the costs per site to drop a bit.

That is not the case with CoSchedule.

The costs compound. I’m not sure if this is a technology limitation on their part that they just have to live with, or if this was a conscious decision. Unfortunately, while the service they offer is kind of unique, for the prices they’re charging, I was able to cobble together a much cheaper solution.

My Verdict: Is CoSchedule Worth the Cost?

For me, no. I have a superior solution in my eyes that will save me thousands over a couple years compared to CoSchedule’s costs for me. Getting to the point, CoSchedule will give you your time back. It wasn’t perfect for my use case, but it might be for you. And there’s nothing more precious to an entrepreneur than their time.

By centralizing a lot of your everyday tasks, you will get back huge quantities of time. I don’t know how much you value your time, but if it exceeds the monthly costs of CoSchedule, then you should check it out. For me, I have a much cheaper solution that gives me back just about the same amount of time. Even more if you count some of the features I got such as centralizing website maintenance.

Option 2: My Own Cobbled Together Solution

Centralizing Blog Management

My solution offers a superior centralization solution using Main WP. Yes, I have to be in each website’s dashboard in order to see the editorial calendar and edit content, but I would have to be in each of their dashboards anyways to edit the content with CoSchedule.

It’s not that big of a jump to adjust to looking at the editorial calendar while being in the site as well. My solution allows me to update WordPress, my plugins and my themes in one place as well as schedule all of my backups.

Social Media Posting

My solution has a better social media solution in my opinion. Not only will it automatically go to my social networks when I publish an article (via Post Promoter Pro plugin and the WordPress to Buffer Pro plugin), but it will also automatically schedule posts to Buffer when I update my article (via the WordPress to Buffer plugin).

Additionally, with Post Promoter Pro, I can schedule as many messages as I want to go out to Twitter, when I want them to go out.

Google Docs to WordPress

For the bargain price of $19/month from Wordable.io, I can send any articles in Google Drive to any WordPress site I want. No caps or limitations.

Editorial Calendars

When I was searching for an editorial calendar there was a WordPress Editorial Calendar plugin that kept popping up that was free and looked like a good idea to me. But there was one problem: the plug-in would only allow me to plan the posts for one website. Considering this is basically how CoSchedule works as well, this was the plugin I decided to go with.

Pricing

The upfront costs for the way I do things are substantial to many people. I almost always buy the lifetime/unlimited licenses when available. The annual licenses are much cheaper upfront for all of the software I use, and some (like Main WP), you’ll get basically all of the benefits I do using their free version.

I bought the ultimate bundle because I wanted some of the extra functionality that isn’t core to what we are discussing in this article. Basically, you could probably cut upfront costs easily in half by purchasing annual licenses that renew.

My Verdict: Is My Solution Worth the Cost?

If you run multiple websites for any reason, then I believe my solution is your better option. If you only run one website, then I would suggest going with CoSchedule. If you’re an agency with lots of people and a need for collaborative content creation, then I would also suggest going with CoSchedule.

My solution works for me because I’m one of the few people involved with my business, and all content collaboration happens inside Google Docs which means I don’t need CoSchedule’s collaboration features.

]]>https://wealthartisan.com/coschedule/feed/1How Can a 13-Year-Old Make Moneyhttps://wealthartisan.com/how-can-13-year-old-make-money/
Sat, 25 Feb 2017 22:21:15 +0000The Wealth Artisanhttps://wealthartisan.com/?p=10519/As a child and teen, I had difficulty earning money. I had to work for the money and I had to work hard! Well, work hard for my age. I could go door-to-door to my friendly neighbors and ask for work which often meant I was mowing grass. There was also a small pizza shop […]

As a child and teen, I had difficulty earning money. I had to work for the money and I had to work hard! Well, work hard for my age. I could go door-to-door to my friendly neighbors and ask for work which often meant I was mowing grass. There was also a small pizza shop around the corner who paid me for the simple but tedious task of folding pizza boxes. They paid me in pizza, but what kid doesn’t love pizza? Point being: I worked for the money.

Nowadays, the world is different. Many well-meaning parents prefer handing out cash, rather than letting them roam the neighborhood in pursuit of work, fearing that the worst will happen if they loosen the tether a tad. While they may think they are doing the right thing, Working is an opportunity to teach children an important and valuable lesson that most of us had growing up: The simple principle of working for money. So, how can a 13-year-old make money in this day and age?

How Can a 13-Year-Old Make Money?

I recommend that children and teens seek ways to make money for what they want and even save a few pennies. You never know where it could lead to!

Video: 10 Teens Who Are Self-made Millionaires

There are plenty of ways they can go out and earn money while being smart and safe. For those who are not yet of working age, I have a bunch of ideas for how you can make money.

Teens Can Start a Neighborhood Business

If you live in a development and get along well with your neighbors, then consider marketing yourself around as open for a business. Hang flyers on everyone’s doors about your new business venture to spread the word! How can a 13-year-old make money around the neighborhood? Here are ideas:

Pet sitting

House sitting

Dog walking

Dog washing

Car washing/detailing

Bake sale

Window cleaning

Lawn care (mowing, pulling weeds, raking, etc.)

Snow shoveling

Babysit

Tutor

Pool cleaning

Garage organizing

Decorate outside for holidays

Lemonade stand

Sell Things to Make Money

Whether you have made something or have something you own, you can sell just about anything! With mom and dad’s permission, you can even expand your client base by using the internet! How can a 13-year-old sell things to make money?

Online

With the help of a parent, you can turn your old toys, clothes, games and so on into cash by posting in local classifieds like Craigslist or on auction sites like eBay. You can also sell things you have made on websites such as Etsy. Tip: Be sure to factor in the cost of shipping and shipping materials into your price so you don’t lose money.

Yard sale

If you don’t get a green light from your parents to do business online, perhaps they would be okay with hosting a yard sale with you! Offer to help in the work of posting signs and setting up tables.

Peers

You can sell things to your peers whether it be at school or church. A big one is selling candy. I know someone who used to buy candy in bulk from one of those wholesale clubs and sell it at school, making 200% more than she paid for the candy! Tip: Know the school rules should you decide to sell anything at school.

Do Chores at Home For Money

Talk with your parents about coming up with a chore list and getting paid an allowance. Clarify that you want to work for your money and let them know about something you’re saving for or a savings goal you have. If this system already exists at your home, then ask your parents about doing more tasks for extra cash. Ideas include:

Wash windows

Dusting (blinds, fan blades, picture frames, etc.)

Organize the clutter

Deep cleaning the bathroom or kitchen

Clean the baseboards

Yard work

Don’t be afraid to negotiate a price for your services as it is also a good life skill to learn from a young age. Ask your parents what they would pay for each task and go from there.

Understand the Laws for Teenagers Making Money

While I understand that following law is important and we should teach children to be law-abiding citizens from a young age, we should also teach and encourage children to work for their money. Often, people call the current generation the “entitled generation.” That helps no one, and what message do we send when we close down kids’ lemonade stands when they are trying to earn money?

Regardless, I highlighted this situation so you can better understand what issues may arise from your 13-year-old trying to earn cash. You can contact your local department of revenue to find out what you need to legally run the business..

While all of this might seem over the top, if you include your teen, it can be an incredible learning experience for them to see how much work goes into starting and running a business.

Teaching Teens the Value of a Dollar

Kids should learn the value of a dollar. Entrepreneurship teaches them that money is something you work for, not ask for. That hard-earned dollar came from many hours of preparation of lemonade, cost of supplies, time setting up shop, and marketing by way of poster boards and a little sister by the road (who in which also wants her cut of the profits).

When all’s said and done, they’ve earned a bit of profit, but they have a great sense of accomplishment and learn what it takes to earn money in an age-appropriate sense. They will take great pride in not having to ask mom and dad for money. Parents will feel a sense of pride knowing that their children are on a good path. That is a financial win!

]]>Father & Son Business Ideas – 30+ Ideas to Start Your Family Business Dynastyhttps://wealthartisan.com/father-son-business-ideas/
Wed, 08 Feb 2017 21:39:26 +0000The Wealth Artisanhttps://wealthartisan.com/?p=10338/If you’re looking for some father and son business ideas to build a successful business or just to pass the time with each other, your business venture lies within this list! What could be a better father & son activity then learning to run a business together? Father and Son Business Ideas Like father, like […]

If you’re looking for some father and son business ideas to build a successful business or just to pass the time with each other, your business venture lies within this list! What could be a better father & son activity then learning to run a business together?

Father and Son Business Ideas

Like father, like son, they always say! All the more reason to get in as much bonding time as possible. Nothing brings father and son together more than starting off on a new business venture together! Many successful businesses are operated by father-son entrepreneur duos with a vision. Ever heard of Nike, Samsung, SC Johnson, Mars Candy Company, or Perdue chicken?

When it comes to coming up with father and son business ideas, the options are pretty boundless. It’s helpful to consider any shared interests you might have (hiking, gaming, automobiles, homesteading, etc.) and any skills you two might share that compliment one another. If you are in need of some actual father and son business ideas, check these out!

Outdoor Businesses

Parents are always complaining about how kids don’t get outside enough. Why not teach them the value of hard work while being outside at the same time? The next few father & son business ideas are for those who want to spend more time outdoors!

Driving Range

If you and your son love golfing, then a driving range might be the perfect business idea for your area. Obviously, a large amount of land and some strategically placed netting is needed. You might also want to get a ball retrieving vehicle. I’m pretty sure your son wouldn’t want to be running around on a live driving range.

Farm stand

If you’re already a farmer for your family, just up your ante and grow more to sell some! Setting up a little stand on the side of the road is relatively easy and all you really need is a table and a cash box! If you don’t have the green thumb, then network with some local farms and see if they’ll let you sell some of their harvest. Many farms are now on Facebook so networking with them directly couldn’t be easier!

Flower stand

Similarly, if you have a green thumb for nature’s beauty rather than food, set up shop to sell flowers and plants at a road stand instead! You could even choose to do this seasonally instead and just sell flowers during the big times such as Valentine’s day and Mother’s day.

Roadside BBQ

Nothing draws people in like the mesquite smell of barbecue anything! When hungry people smell good food, they’ll be sure to flock to your stand for some grub. Also, offer up some free samples to lure people in! I’m somewhat of a barbecue connoisseur and can say without hesitation that some of the best barbecue I’ve ever tasted came from roadside stands!

Local food stand

No matter where you go, there’s always certain foods that are local favorites. Whether it’s boiled peanuts or homemade jerky, concoct the perfect tasting recipe and bring it forward! The best part of food stands is that they are cheaper to run than restaurants or food trucks. Just make sure you have all of the proper permits and licenses in place. We have more food stand, kiosk and cart business ideas a bit later on in this article.

Landscapers

Not only does landscaping make a perfect two-person business, but everyone needs their lawns manicured and not everyone is up to DIY! During the colder months, you can transition to leaf cleanup and snow removal for a year-round gig! This is a great way to teach the younger ones about hard work. They’ll also learn the appreciation of a nice cold soda after a long, hot day’s worth of work!

Caricature artists

If you and your son are artists, try your knack at these amusing portraits! Set up shop at a local park or beach, and even get permission from restaurants on busy nights to rake in the cash together.

Metal detectors

Okay, so this one you’re not exactly selling things, but it’s a good hobby to do together and you find all kinds of cool stuff (and yes, some of the cool stuff can be worth tons of moola)! This kit has everything you need to get started!

Pool maintenance

Keep everyone’s pools and hot tubs perfectly clear and chemically-balanced to make a pretty penny. Lots of people enjoy the luxury of having a pool but simply don’t have the time or the know-how to maintain one! These are the ideal kinds of customers!

Painting contractors

Homes can use a face-lift here and there, and painting isn’t a terribly tough trade to learn! One person can surely get the job done, but a two-man team is always a better option. One way to drum up business is to see if you can network with some realtors to paint houses they’re selling, or give you leads on houses they’ve sold where the owners want a new coat of paint before closing.

Flea Market Businesses

Flea markets are the perfect place to start certain businesses. They primarily operate only on the weekends, they have a bunch of foot traffic for you to sell to, they are inexpensive for rent costs, and often you don’t have to be tied into a long-term lease agreement. Some flea markets even allow you to go month-to-month.

Garage sale

Rummage through your home and garage for items you really can live without, and ask other family members to do the same. Keep your eyes on your local free Craigslist and Freecycle listings to increase your inventory for business! Free inventory to get your business going is a wonderful thing!

Dollar store

There’s plenty of websites online that allow you to buy items in bulk for really cheap, so opening a dollar store can be pretty profitable for you and your son! Not to mention, the customers who are at a flea market are looking for a deal. Deals don’t get much better than $1.00!

Candy shop

Everyone gets a sweet tooth once in awhile, and when you spot a candy store in the flea market, it’s a hard one to resist! I recall when I was younger and my family would go to the flea market, I was always drawn to the tables with the big jars of candy, and often my dad would give in. We both fell into the vendor’s well placed trap!

Computer/electronics repair and sales

Are you guys total techies? Put your skills to work by repairing computers or buying broken computers and reselling them after repairs! My very first computer came from a flea market computer shop, and look what it started! I now run an online business.

Online Businesses

There’s no denying that online businesses are the future. Heck, it might be worth arguing that they’re already the present! All purchase decisions are researched online, and many of the purchases themselves are also made online. Lucky for you “selling” isn’t the only thing there is to do online! Perhaps one of these will be what you need to start that father and son company!

eBay store

There’s almost an unlimited amount of things that you can sell on eBay, and with two people running the page, that’s even more money to be made! eBay has grown a lot over the years and has certainly matured beyond the auction place to sell your garage sale items. You can run a full fledged eCommerce business for very little in monthly costs.

“We’ll sell your stuff on eBay” store

This is not just a thing from The 40-Year-Old-Virgin, people actually do this and make lots of money doing it! While the business model has aged a bit, there are still lots of people who just don’t want to go through the trouble of taking pictures, writing listings, packing and shipping their items. Even if they did, their account would have little to no feedback. Why deal with that when you can just cut another person in and use their account with amazing feedback?

Online consignment

If you’re not for the idea of sharing profits with eBay, you can always start your own website for consignment sales! You might be able to get away with using a spare room for storage of items, or you may require a storage unit. If you’re not keen on setting up your own website, then you can also sell on eBay either through a “buy and sell group” or through a Facebook shop, which has no fees as of this writing! If you’re unfamiliar with the difference between a thrift store and a consignment store, then this is the gist of it: they are both second-hand stores, but a consignment shop holds other peoples’ merchandise and pays those people when it sells. A thrift store is all products that you own and sell.

Online thrift Shop

Similar to running online consignment, but without the need to pay out money to anyone (except Uncle Sam, of course), you can start a second-hand store online.

Kiosk/Cart Businesses

This is another great way to get your feet wet in the world of retail without having to take out a giant loan. Kiosks and cart based businesses can often be started with just a few thousand dollars. They still require many of the same licenses and permits, and sometimes even more, but the trade-off is a highly portable, inexpensive business.

Phone repair and accessory sales

With YouTube having tutorials for repairing virtually anything, learn how to fix phones and open a kiosk! Most malls have one of these that also sell accessories, and you might just get lucky and run one of these kiosks with your boy. It doesn’t hurt that kids know way more about phones than we ever will.

Hot dog cart

Hot dog! Hot dog! Get your hot dog here! Parks and beaches tend to be very busy places, which makes it the perfect place to sell the highly-profitable hot dog! Hot dog carts are extremely affordable so the hardest part of getting this business off the ground is obtaining permission to set your cart up in a good location.

Beverage cart

Similar to the idea of having a hot dog stand, but just with beverages! Think cold beverages when it’s hot out and hot beverages when it’s cold out! This just sounds like a great idea to setup near construction sites.

Hot/unusual toy sales

We’ve all seen those guys at the mall flying toy helicopters for a living, looks like fun, right? Find a cool toy and sell a few different models! One of the coolest ones I’ve seen was “instant snow” during Christmas time. It was this powder that you add water to and it fluffs up like snow and gets cool to the touch.

Businesses on Wheels

Mobile businesses have gained so much momentum in the last few years. People have realized the benefits of not being tied to on specific location. How much better is it to go to the crowds, rather than trying to convince the crowds to come to you? In this section, we’ll cover businesses on wheels.

Ice cream truck

One person can drive while the other person serves! You can also sell individual pieces of candy and soda! I don’t care what year it is, if kids hear that ice cream truck music, they’ll be chasing you down like the zombies from “World War Z.”

Taxi service

If you each have a vehicle that you don’t mind putting the extra wear and tear on. Consider banding together to make money bringing people to the places they have to go! This is especially effective if you live near an airport. You two can also band together as Uber drivers if its available in your area.

Food truck

From gourmet burgers to cotton candy, you guys can start a food truck business and travel around to where the money is! This is pricier than a food cart business, but has the added convenience of your vehicle and kitchen being one unit.

Delivery service

Lots of people need things whether it be groceries or liquor, or building materials taken to a job site! Take payment up front plus your fees for service, pick up what’s needed, and bring it to your client!

Brick and Mortar Businesses

Oh yes, brick and mortars still exist, and many are doing just fine. You just need to get into a business that is less susceptible to the internet takeover on retail. Below are some brick and mortar business ideas for fathers and sons to run together.

Party rentals

Start with things like inflatables and cotton candy machines, then eventually increase inventory to include tables, chairs and linens if you’d like! Bounce house rentals seem to be very popular in my area, especially for birthday parties and local carnivals.

Family food joint

Whether it’s a bakery, a pizza parlor, cafe or a full-on restaurant, there’s lots of opportunity for family members to learn lots in the food industry! One of the best things about the food industry is that the internet can’t ruin it. People will always want to go out for a nice meal.

Vintage store

Everyone seems so fixated on the good ol’ days, and can you blame them? Open a store selling lots of their old favorites along the lines of comic books, vintage toys, and TV favorites! In addition to having your own store front, you can also make money on Etsy by selling vintage items.

Hobby shop

It seems as though Magic the Gathering and Pokemon aren’t giving it a rest anytime soon, so opening a store for people to connect to play, hosting tournaments and selling gaming supplies will always be a local favorite! Don’t think card games are the real deal? Just watch this Magic: The Gathering Tournament and tell me people don’t take this game seriously:

Thrift store

As mentioned above in the Online Businesses category, but at a physical location, instead! Once again, the nice part about thrift stores is that they are less likely to be eliminated by the internet. Shipping costs take away some of the benefit of buying used items, so brick and mortars will always be around. Not to mention, people generally want to look at and examine used items before purchasing them.

Now, Go Start Your Business!

It’s never too late to decide to start a business as a father and son duo. Starting from a younger age, though, it helps to teach the value of a dollar, how to run a business, and develops healthy habits rather than being a couch potato. All of this while spending quality time with each other, what could be better?

]]>How to Make a Budgethttps://wealthartisan.com/budgeting/
https://wealthartisan.com/budgeting/#commentsSat, 23 Jul 2016 21:37:26 +0000The Wealth Artisanhttp://wealthartisan.com/?p=10188How to Budget Your Money and Save According to the NBER, 75% of American households would not be able to come up with $2,000 dollars if given 30 days. Are you a part of the 25% who could come up with the money, or are you a part of the 75%? Is there too much […]

Are you a part of the 25% who could come up with the money, or are you a part of the 75%?

Is there too much month left and not enough money? It’s time to learn how to budget. In this article, we’re going to make sure that you’re part of the 25% by covering:

How budgeting fits in your life

Tools you need, including a few free options

The 4 steps to effective budgeting

Awesome tips to save even more money

What to do with your saved money

Let’s get started!

How Does a Budget Fit In With Your Life?

Running a home and raising a family keeps you busy, I get that. It gets even harder when you don’t have enough money at the end of the month. I know budgeting sounds like another chore to add to your already long list of things to do…

But what if?

What if I told you that budgeting could help relieve money pressures from your life?

Are many of your stresses financial based? I know when I was a kid, my parents always fought about money.

Creating a budget doesn’t have to be another stress in your life. Think of it as a medicine for your financial stress. It doesn’t fix all of your problems right away, and it doesn’t taste good, but if you keep taking it, you’ll start to feel better.

Creating a budget takes a little time up-front, but once it’s made, you just need to tweak it as time goes on. Just remember: you have to be willing to do whatever it takes, even if it means giving up things you like, and choose to change your lifestyle to make it fit within your means.

You can do it, and I’m going to help you.

Tools You Need For Budgeting

Writing everything down with pencil and paper is an excellent way to plan your budget, especially if you’re not comfortable with spreadsheets. You can always correct things written in pencil and get yourself some different versions of your budget to see what version suits you best.

You should break out your calculator as well. There will be some calculating going on and you want to have an accurate count. Calculators can save you from having to live with mistakes. If the pencil and paper route are not what you like, there is also budgeting software available like Mint.com, where you can create your budget electronically.

Step 1: Budgeting Should Start With Goals

Goals help you laser-focus your plans. What do you hope to accomplish with your budget? Saving more money sounds nice, but what does “more money” mean? A better goal would be to save $1,200. But it’s not a great goal. What makes a great goal? A definite outcome and a time frame.

Here is an example of a great goal: to save $1,200 over the next year.

It is a clear, achievable goal with a deadline.

By setting specific goals, you can better understand what you need to do to reach them. What are some other types of goals you can set?

Eliminating Debt

Eliminating debt is a great goal. You might find that you’re a little over-extended in the credit card department and would like to get that under control. Or maybe you want to pay off your student loans. Those are both great outcomes for your goals.

Just Having Enough Money

Maybe you just want to eliminate the whole experience of not having enough at the end of the month, and your goal (and reward) would be no more stress at the end of each month. This is a wonderful and completely respectable reason to start budgeting.

Buying Things Without Credit Cards

Perhaps you want to teach yourself how to save for the things you want rather than putting everything on credit cards. This is a lesson that many people need to learn, but probably won’t. You’re different though, I can feel it!

Write Your Goals Down

Write down at least one goal that you would like to accomplish, along with the timeline you can realistically achieve it in. This will be what we use to help us setup the rest of the budget.

Step 2: Get Your Whole Financial Situation In Front of You

Now you need to gather up all your bills and receipts and lay them out on your table. You want things like receipts, earning statements, bank statements, and bills. After you lay them out you’ll want to separate them into 2 separate categories which are:

Incoming

Outgoing

Get yourself a total of both categories. You may find yourself getting a little nervous at this point, but don’t worry, you’ll find there are things in your budget you can do without that can help bring you into that ‘stress-free end of the month’ lifestyle you want.

It also helps to separate your bills (outgoing) from your pleasures (also outgoing). You can put the water bill, electric bill, and credit card receipts and the like, all together. Now you can make another pile from ‘dining out’ receipts, movie tickets, movie rentals, game rentals, etc.

NOTE: All of the things above are outgoing. Some are totally necessary and others can be changed or cut down so you have that extra money you’ve been needing at the end of each month.

Step 3: Create the Budget

Now that everything you need is right in front of you, it’s time to make decisions about what and where to cut. You need to cut out whatever it takes to meet your goal from step 1. There are two ways you can do it, the simple way or the detailed way.

The Simple Budget

The simple budget is a nice way to budget if you have a relatively minor goal to achieve. Basically, it involves controlling your spending in 1 area. For example, cooking food at home more often, or ordering from take-out restaurants rather than pricier dine-in restaurants.

Another common thing people do is give up a habit like buying their morning coffee. This is the easiest kind of budget you can do, simply cutting money in one area, but if you have bigger budget issues, such as spending more than you make and wanting to establish savings, then you probably need the detailed budget.

The Detailed Budget

Your other option is to categorize all of your income and expense items then figure out where to make cuts. First start by writing down your income and your actual spending. I like to break expenses into 3 categories:

Fixed expenses: These are non-negotiable fixed amounts that you must pay each month.

Variable expenses: These are expenses that fluctuate. Some of them you might be able to get rid of, but many you can’t.

Optional expenses: These are expenses, either fixed or variable cost that you can eliminate if needed.

Here’s an example budget I made and included sample “actual spending” data in it:

Next, create another column for “budgeted.” In this column, this is where you figure out where you can make cuts. Here’s my example. I put cuts in red to make them easier to find.

How Much Do I Have to Cut from My Budget?

The amount you have to cut will depend on what the goals were in step 1. In my example, this couple put their goals at the top of the spreadsheet. Not only do they spend more than they make, but they also want to save $250 dollars each month. That means, they’ll need to cut out nearly $700 dollars per month from their budget!

In my example above, we decided to cut our grocery shopping by using coupons and doing a lot more shopping at a discount grocery store. We also decided to cap our frivolous shopping to only $300 each month and dining out to $250 each month. On top of those cuts, we canceled our online education subscription, our gym membership (we weren’t using it anyways) and our streaming subscription.

If you need help with ideas for cutting costs, here are two examples:

Grocery Store Savings Example

For example, groceries are the classic variable cost budgeting item. How much have you been spending on groceries? If you typically spend $500 each month on groceries, can you reduce it to $400?

How do you reduce your grocery spending that much? Coupons are the first and most obvious step. If that doesn’t do it, then consider switching grocery stores. My family now does nearly all of our shopping at a discount grocery chain called Aldi. It routinely saves us hundreds each month. Consider getting rid of brand loyalties, only buy items when they’re on sale and stop buying pre-made foods. All of these tips will help you shave money from the grocery bill.

Cutting Cable TV

My family has been without cable television for over 5 years now. Lots of people wonder how we’re able to live like this. When we watch TV, we wonder how people can pay money for it. The sheer number of commercials alone is distracting. We thought we were making a sacrifice, but actually ended up preferring life without regular TV. We have Netflix and love it.

Other Budget Areas Where We Can Save Money

There were plenty of other spots that I could have cut. I wouldn’t hesitate to get rid of cable (although Internet would need to stick around). I also would switch phone carriers to something cheaper. We could probably save a little on electricity by adjusting the household temperature and making sure we’re not leaving lights and TVs on all day.

Other more drastic options would be selling the cars and buying a used, but paid for vehicle (this would also drop the car insurance down). Lastly, sometimes life requires everyone to make sacrifices, so the kid’s sax class and the other kid’s skate park memberships might need to be cancelled.

Step 4: Control Your Spending and Stick to the Budget

One of the hardest things about creating a budget is sticking to it once it’s created. It’s tougher at first until you get used to doing without some things that sort of made your life feel worth living.

However, when the end-of-the-month headaches disappear you can feel a sense of pride in taking responsibility for your budget and household. And who knows, maybe you won’t miss the things you think you need. That’s how we felt about cable. So, how do you stick to your budget?

You can use a free app like Mint.com to help keep track of your spending or other tools like You Need a Budget. You can keep your budget with you so you’re always reminded. Another option is to kick it old school and use the envelope budgeting method.

Another great tip is to ditch the credit and debit cards. Switch to cash so you always know how much you have available to use and can’t spend more than you have. It seems scary at first, but don’t worry, most of your fears won’t come true.

What Do I Do with the Money I’ve Saved with my Budget?

Once you get to this point, it can be hard to remember where you started. Remember what we did at the very beginning of this guide? We established our goals. Naturally, what you do with the money saved from budgeting should be used towards the goals you set!

Eliminate Your Debts

One of the main goals for many families is to get out from under the constant credit card payments. If you want to reduce your credit card debt, work on one card at a time. Start with the highest interest card and work your way through them.

Find money within the cuts you’ve made in your lifestyle, to make a larger than minimum payment on one card every month, while maintaining the minimum on the others. Once that card is paid off you will have saved on interest by paying more than the minimum, and now you can start on the next card with the money you were using to pay off the first card.

Create an Emergency Fund

Consider setting some of the savings aside as an emergency savings fund and use the remainder to pay down other debts. Once you’re debt free, you can then just pile the money up sky high, invest it or save for retirement. Honestly, once you’ve taken this much control of your finances, you really can do almost anything.

How to Budget Wrap Up

Budgeting is all about knowing what you have coming in and what you have going out. Sometimes it becomes very easy to lose track of how much is going out and we spend without caution. That’s how people wind up in such dire straits financially.

If you and your family are in need of a budget just follow the steps laid out above. If you want to get online and do it then go to Mint.com and get signed up, it’s free and I use it. Having a realistic budget will make things easier on everyone over the long haul. Give stress a rest and save yourself some headaches by learning how to budget and staying within your budget.

]]>https://wealthartisan.com/budgeting/feed/2Envelope Budgetinghttps://wealthartisan.com/envelope-budgeting/
Sat, 23 Jul 2016 01:43:08 +0000The Wealth Artisanhttp://wealthartisan.com/?p=10168I think you would agree: Money’s tight. Everyone needs help saving money. You’re not alone in this. Many people are looking for better ways to save money. However, it has become hard to even make money, let alone save it. Fortunately, there is a way to save money that can be surprisingly effective. This is […]

Everyone needs help saving money. You’re not alone in this. Many people are looking for better ways to save money. However, it has become hard to even make money, let alone save it. Fortunately, there is a way to save money that can be surprisingly effective. This is called envelope budgeting.

Envelope budgeting is an effective way to save money for people because it helps you accomplish two things:

It helps you budget money into categories.

It forces you to limit your spending in those categories.

The nicest part of envelope budgeting:

It’s dead simple. In this article, we’ll cover a few easy steps to get you on your way to saving money wisely using the envelope budgeting system along with one really awesome tip at the very end.

How Envelope Budgeting Works

Envelope budgeting has been around forever, but its popularity was re-kindled by Dave Ramsey when the world woke up one day and realized we were all in debt up to our eyeballs and needed learn how to make a budget. Below are the basic steps to understanding how envelope budgeting works.

Step 1: Choosing your envelope categories

The envelope represents a category of spending for you.

It could be something broad like “food” where the money is for groceries and dining out or you could use a more specific category like “dining out.” Here are some other category ideas you could use for your envelopes:

Shopping

Clothing

Personal Care / Pampering

Entertainment

Groceries

Restaurants

Coffee

Fast Food

General Casual Spending

Pretty much, any area in your life where you have costs that fluctuate, you can usually control with envelope budgeting.

Step 2: Putting money in your envelopes

The next step is to fill your envelopes with money. It’s easiest to do this after pay day, but if you have the ability to start now, then sooner is better than later.

The hardest part of this step is being realistic but also responsible. What’s the minimum amount of money you think you can get by with? If you don’t put enough in, will you have the discipline to say no? You must do your best to commit to whatever amount you put in your envelope.

Expert Tip: Use your bank statements or Mint.com to help you figure out your spending for a certain category. For categories with a lot of fluctuation, like shopping, I use a 12 month average.

Step 3: Spending your money and saving it at the same time

Once you have your money allocated to the envelopes, the next step is using it. If you’ve been swiping credit or debit cards most of your life, then it can be a hard habit to break. Always remember to get your envelope ready when you’re about to spend money.

Expert Tip: I love to write the amount of money I put in the envelope on the outside, and as I spend, I subtract the amount on the envelope like it’s a ledger. This way, you always know exactly how much you have in your envelope.

Respect your categories! Your grocery money shouldn’t be used for shoes. Don’t borrow money from other envelopes either. Once you do that, you’ve ruined the whole idea behind this budget. The idea is that when you run out of this type of money, then you have no more money to spend.

If you notice a drastic issue with the amount of money, then try to adjust it next month if at all possible. You’d be surprised at what you can accomplish if you are consciously spending your money rather than mindlessly swiping cards until they decline.

Envelope Budgeting Explainer Video:

Other Twists on the Envelope Budgeting Method

Budgeting by Paycheck

Let’s say you get paid twice a month and each month you want to only spend $400 on groceries. Instead of taking $400 out of your paycheck and using that over the whole month, why not take out $200 and use that for the first 2 weeks, then when your next paycheck comes in, you can take another $200 out for the next 2 weeks? There are many variations you can use, just make sure it works for you.

Money Leftover: What do I do with Leftover Money?

Inevitable, if you are doing things well, you’ll be left with extra money at the end of the month. Many people wonder what they should do with it. There are 2 things you can do:

Roll the money over to the next month

You can leave the money in the envelope and have more money for that category next month. This is nice because it will give you breathing room for unforeseeable fluctuations. I wouldn’t suggest this for frivolous categories like “shoe shopping”, but categories like “groceries” might be good.

Save the Money: Mission Accomplished

The other option is to take the excess money and put it into savings. I mean, that’s one of the goals of budgeting: saving money! Start stacking that extra cash away for a rainy day.

What if I Always Have a Lot of Money Leftover?

If you find yourself with a bunch of extra money leftover in an envelope category each month, then try lowering the amount. The other alternative is that perhaps you need a broader category. Having a cappuccino category, a latte category and an espresso category might be getting a bit too specific.

Budget Money, but Not Like You’re a Robot

Remember: there is nothing wrong with having some money set aside for fun. You’re a human, not a robot. Every now and then you can treat yourself within reason. You can take yourself or your family out to eat something. However, you have to be careful not to go beyond the amount budgeted.

Always budget with this in mind. If you can be disciplined enough to strictly budget and tolerate a drastically lowered quality of life, then great, but try to maintain your sanity at the same time.

What is the Purpose of Envelope Budgeting?

We have the internet, smartphones and apps. What purpose could envelope budgeting possibly serve? Envelope budgeting does something that advanced technology can’t do: unplug you.

It limits your access and forces you to only use what’s in the envelope. Can you get around it? Sure, but it’s so much more obvious when you’re breaking the budget. Don’t get me wrong, I love Mint.com (check out my Mint.com Review), but Mint can’t stop you from over spending, it will just let you know that you did.

The core philosophy of envelope budgeting is that if you can’t pay cash for it, then you shouldn’t buy it. The envelope budgeting method is designed to help you fight the need to spend beyond your means.

How can Envelope Budgeting Help Me?

Envelope budgeting doesn’t just help you save money. It helps you organize your spending and see where your money is going. Envelope budgeting forces you to only spend the money you’ve allocated and no more. It trains you to use only money that you have, rather than allowing you to borrow money from banks by using credit cards. It teaches you that you must save for things that you don’t currently have enough money to purchase.

Envelope Budgeting to the Extreme

As promised, here’s an awesome tip for envelope budgeting. Envelope budgeting does many things for you in terms of controlling your spending, but do you know what one of the best things you can do with your newfound cash flow control is? Eliminating debt. Take the money you’ve saved and pay off any high interest debt that you have.

This will save you money on interest and free up your cash once you’ve paid those debts off. Then you’ll have even more money to budget with! Have you used envelope budgeting? Share your stories with me in the comments.

]]>Small Town Business Ideas – 55 Great Business Ideas for Small and Rural Townshttps://wealthartisan.com/small-town-business-ideas/
https://wealthartisan.com/small-town-business-ideas/#commentsThu, 16 Jun 2016 01:24:45 +0000The Wealth Artisanhttp://wealthartisan.com/?p=10141Small towns have a lot to love about them such as community, character and just enough people. The other good thing for you is that they have plenty of unfilled needs. In this article, I will answer two questions: “What business does every small town need?” and “What are some great business ideas for small […]

How to Think of a Good Business for Small Towns

When trying to think of a good business idea for a small town you want to think of the things that the town is missing. What services do you hear other people complaining about? What places do residents have to drive long distances to commonly?

These things will give you a good place to start. Next, think of your interests and passions. Do any of the towns needs intersect with your interests? If so, awesome! If not, I’ve got a list of ideas here that just might be helpful. Just don’t get too hung up on passion. Mike Rowe has some advice about “following your passion.”

What business does every small town need?

Every small town needs a number of businesses to function properly, and that’s great news for all of us. That gives some variety to the options that are available to you. In this first part, I really do try to limit the list to just the necessities for a small town.

Now, I do have a few less “necessary” ideas on this part of the list, but being realistic, families generally don’t want to live in a town that doesn’t have restaurants, or entertainment of any kind. The second part of this article covers all of the other business ideas I could think of, including the more frivolous ones that a small town can live without.

Business Services

Businesses need other businesses in order to operate. Why not leverage the business you could get from the town’s existing entrepreneurs by offering the services they need?

Accounting & Bookkeeping

Businesses need accountants to help them with their books, planning, growth and taxes. If you’re a CPA, then this is absolutely something you can offer. If you happen to be great with numbers, but aren’t a CPA, then offer bookkeeping services and leave the heavy-duty tax planning and decision making to the CPAs. Make sure you check with local and state regulations to ensure you have the proper certifications and licenses in place. Interested in becoming a CPA? Then check out the American Institute for CPAs.

Shipping

Businesses and the locals alike need shipping services. While there will probably be a post office locally, shipping services offer packing and other business services under one roof. It is also common for shipping businesses to offer printing services as well. Starting a UPS Store is a popular way to enter this industry.

Tax Services

Perhaps bookkeeping isn’t your thing, or you want more than just business clients. Tax services are a great fit as you’ll be able to prepare the taxes for the small town locals as well as for smaller businesses who perhaps handle their own bookkeeping and can’t afford a CPA’s services. Intuit has a great article on how to start a tax business.

Entertainment

Bar

People have been wetting their whistles in these social settings for centuries. If your small town doesn’t have a place for people to congregate and sing karaoke poorly, then what are you waiting for? Ensure that you know about liquor licenses, how to get one and how much it will cost you.

Ice Cream Parlor

While this isn’t a necessity, all families like to go out for ice cream every once in a while. These sweet treats are a nice, affordable way for families to enjoy an evening out together. The National Ice Cream Retailers Association is the best place to start if this idea interests you.

Food

Convenience Store

While most small towns probably have a gas station, lucky for you, convenience stores are really the money maker. The margin on fuel is not terribly high once all of the costs are included, but that’s not the case for food and sodas. With a well-positioned convenience store and possibly 24-hour service you just may find yourself with a profitable business. I think all parents have at least one story where they bought a $5 gallon of milk at a gas station in the middle of the night. The Small Business Development Center has information on starting a convenience store.

Diner

What town doesn’t need a diner? Between just needing a cheap hot meal and having a place to enjoy coffee before going to work, diners play a central role to small towns. The University of Kentucky has a nice guide for planning a restaurant business.

Fast Food

After a long day of work, many parents just don’t have the energy to cook a whole meal. In those instances, parents may turn to your fast food restaurant (Also known as Quick Service Restaurant or QSR for short) for a quick, easy, and fun treat for their family. Here are some of the most popular franchises to start:

Fine Dining

People in small towns like to go on dates and that’s where a nice restaurant comes in. Figure out what kind of cuisine the locals enjoy most and find a premium, yet still affordable price point. Giving the locals a date-night destination might make you an awfully popular person in town. If you’re not too keen on coming up with your own restaurant concept then consider franchise opportunities. The Melting Pot Fondue Restaurant offers franchise opportunities.

Market / Farmer’s Market

People need a place to purchase the food they eat, but I didn’t want to put a “grocery store” on this list for a number of reasons. First, every other list on the internet has this idea. Second, I think it’s a terrible idea because grocery stores often run on thin profit margins (often 1-3%)! Third, I’m not keen to have my readers trying to battle some of the largest companies on the planet. Finally, most small towns will already have a well-established grocery store.

Pizza Parlor

This might be a more obvious idea, but if your town doesn’t have a good pizza place then you have the moral obligation to fix this detrimental problem. No town in this country deserves to be without a great pizza place. I know this doesn’t seem like a “necessity” but I can’t imagine a town going long without a pizza place being opened. The food is inexpensive, delicious and easy! Learn more about starting a pizza parlor.

Take-out Restaurant

Just like the fast food restaurant idea, a takeout restaurant offers the same convenience of a fast food restaurant but with the feel of higher-quality. If you want to offer the convenience of fast food but the quality of restaurant food then you might consider starting a take-out (takeaway) restaurant. Some ideas you could use include Mexican takeout such as tacos and burritos for the more standard Chinese takeout. You don’t have to stop at just those ideas though nearly any type of food can be turned into takeout. I fondly remember an Italian takeout restaurant that was near my house as a child.

Home & Personal Care

Daycare

In today’s times, often both parents work. They need a place to drop off their children so that they can be taken care of while they’re at work. If you have a passion for taking the best care of children possible, then learn more about starting a daycare business.

Hair Salon / Barber Shop

People need haircuts, and luckily, we’re just plain awful at giving them to ourselves! A barber shop or hair salon is the perfect business to help people look their best and maybe share a bit of the small town gossip. Be the talk of your town by starting the best barbershop or hair salon!

Handyman

A general handyman will find plenty of business in a small town. Jobs will include fixing air conditioners or furnaces as well as repairing various problems around the house. Much of what a handyman does this just save people time by doing jobs that they might be able to do but just don’t want to.

Plumber

Everyone needs a plumber sooner or later. New construction will absolutely require the services of a plumber as well as your typical clogged pipes. If you love getting people unstuck, then you should consider starting a plumbing business. You’ve never seen gratitude until you’ve fixed the clog of a person who has to use the restroom.

Medical

Dentist

Despite the fact that everyone fears the dentist, somehow dentist still seem to make a pretty darn decent income. Starting a dental practice in a small town is a sure way to cash in on a small town’s sweet tooth. The ADA has a checklist for starting your practice, but you have to be a member of the American Dental Association to view it.

Doctor’s Office

Where there are people there are health problems. Many small towns have a shortage of doctors and health personnel to take care of the people. If you’re a doctor who longs to start their own practice, then a small town might be the best place to start!

Eye Doctor

Just like people need their teeth they also need their eyes. In addition to fitting people for glasses and contacts, you could also do eye exams for schools. If you want to start your own optometry practice, then read this article.

Funeral Home

There’s two sure things in life death and taxes. Unfortunately, the government has taxes cornered, but every small town unfortunately does still need a funeral home. Learn more from the National Funeral Directors Association.

Medical Transport (Non-emergency Transportation)

You may not have the resources to start a hospital but you probably have the resources to start a non-emergency transport business. Perhaps your business will focus on helping elderly people get to their doctor’s appointments or transport people with non-critical medical issues to the hospital. Every small town needs some form of medical transport.

Veterinarian

Even our furry friends need medical attention sometimes. If not for the family pet, then farms require the services of veterinarians to take care of the checkups and heal up their sick and injured animals. Learn more about becoming a veterinarian.

Retail

Clothing Store

While clothing stores have largely been taken over by big box stores and online retailers, many of the big box stores haven’t been able to enter really small towns simply because it wouldn’t make Financial sense. You could also specialize in work and school uniforms that are specific to the businesses and schools in your town. Entrepreneur.com has a nice article about starting a clothing store.

Shoe Store

Just like clothing stores, shoe stores have also largely been dominated by large retail outlets. One great thing about shoes is that people still like to buy them in person rather than online because of the fit. Again, just like clothing stores, you can specialize in footwear that is needed for local industry. For example, if construction work is large in your small town then specializing in work boots would make a lot of sense. Learn more about starting a shoe store.

Other

Auto Mechanic

In small and rural towns, people typically will drive to town in order to get the things that they need. That plan works really well until your vehicle doesn’t work. A local auto mechanic is very important to the functioning of a small town. You can start a mechanic shop for fixing everyday vehicles or specialize in large equipment repairs if farming is big in your community.

Bed and Breakfast

Many small towns are just too small to support a whole hotel. Having a bed-and-breakfast would allow passers-by to have a place to stay as well as give the locals a place to get away without spending a lot of money. Another nice idea, is that your bed and breakfast could be the local wedding destination.

Computer and Phone Repair

A few years ago, I might have considered this a more frivolous business, but our lives are so wrapped up in technology that it is now a necessity. Computer and phone repair businesses are here to stay. Our phone and computers contain our family photos, our business records, our banking statements and more. People often need to have their data recovered because their computer has failed. Sure, you’ll have your routine virus removal jobs, but your real money maker will most likely be file recovery.

Insurance

There are many types of insurance including business insurance, car insurance, health insurance, and homeowner’s insurance. No matter how rural a person tries to be, or how small the town is, people still need insurance. You could be an insurance broker, or if your pockets are a lot deeper, then start your own insurance company.

Lawyer

Lawyers often aren’t thought of in the most positive light, but when you need one, you’re sure glad they’re around. There are numerous legal situations that arise that require the expertise of a lawyer, and you can be the person to provide those services! Learn more about starting a law practice.

Business Ideas for Small Towns

Now that we’ve covered the types of businesses that all small towns need, we’ll now dive into the remainder of small town business ideas I have. Below you’ll find ideas for numerous industries and professions.

Food Related Business Ideas

Everyone needs to eat, and food is one of the first things to come to mind when thinking of business ideas. Below are some food related business ideas for small towns that I thought would work well. I tried to be a lot more creative than saying “start a restaurant.”

Coffee and Tea

Bring a new level of sophistication to the coffee and teas that your small town friends are drinking. Introduce them to whole leaf teas rather than the bags of saw dust everyone is currently steeping. Once they taste the difference, they’ll have trouble justifying what they’ve been consuming. When it comes to coffee, consider roasting your own beans. The smell alone would probably have people pounding at your door.

Ethnic Cuisine

What is the most popular cuisine in Great Britain?

Any idea?

Would you guess Indian? I personally love Indian food myself and find that really cool. Do you bring any flavors to your food at home that your small town has never experienced? Don’t hide it, share it! Sure, there’s the risk that your small town might not be into the new flavors, but I would doubt it. I love small towns and have lived in them almost my whole life, and I know that they are starved for new, different experiences- they just might not know it yet. You can start small by having some people over to test it out, or by bringing things to a market for people to taste test for free.

Fermented Foods

People are now rediscovering the health benefits of fermented foods. This style of food is regaining its forgotten luster. It’s about as close to food magic as you can get without being put on trial for wizardry. Here’s a cool video of some guys making fermented sodas and loving life:

Food Truck

If you don’t have the money to start a restaurant, but you have the passion for good food, then food trucks are a natural first step. Without the headaches of high rent, you can focus on creating great food and getting it to where the crowds are! Check out this great video about the food truck revolution!

Jams, Jellies and Sauces

If your small town is known for its produce, then perhaps jams, jellies and sauces are a good idea. Coming up with your own twists on flavors will help set you apart from the junk they sell in grocery stores (oh yeah! I’m taking my gloves off!). Don’t be shy either, go for interesting things that might rock your town’s world like pepper jellies (those are amazing!) and crazy hot sauces.

You can sell them at local farmer’s markets to get started. Use ingredients that your area is famous for. For example, I went on a vacation to St. Augustine Florida once and learned that they produce the Datil pepper. There were tons of locally made “Datil” products. Very cool. Here’s one happy customer proudly showing off his purchase:

Businesses that Give Experiences

Life is a collection of experiences. Why not start a business that helps people enjoy the moments of their lives? Wouldn’t it be cool to know that your business is responsible for memorable moments in your customers’ lives?

Attractions

If I know anything about small towns, it’s that they usually don’t have theme parks. That doesn’t mean you can’t setup your own successful attraction. Many small towns have attractions that embrace their natural surroundings like rafting, treetop zip lines and numerous other attractions that you can bring to your area.

Drive-In Theater

Nothing says “small town nostalgia” like a drive-in theater. Keep the nostalgia alive by bringing back something that most towns now miss. Drive-ins are great for couples, but they are also wonderful for families with small children. Small children in a traditional theater is a recipe for disaster, but when tucked safely inside a car, they won’t bother your other patrons.

Entertainer

Every town needs entertainment for their various festivals and night time activities. If you have any talents that others enjoy seeing (or hearing), then consider entertainment as your business. I remember when I was younger there was a local band that appeared at every small and mid-size town function. They had a great following which made them all the more important to book for events because followers meant customers.

Event Organizer (Be the person who brings the excitement!)

I’ve lived most of my life in small towns and they all have a lot of the same issues. One common issue is that most only have 1 or 2 major events each year and everyone goes to them. They end up crowded, there’s never enough parking. What if you could capitalize on that kind of excitement and turn out? By organizing your own events you can! In addition to sales of tickets and vendor slot rentals, you can raise money from businesses to help “sponsor” the event!

Factory That Sells Experiences

Producing a product is inherently interesting. If it weren’t, shows like “How It’s Made” wouldn’t be so successful. If you live in an area that is visited by tourists at all, perhaps you could create a product and let visitors see how it’s made, or build an experience around it (Hershey park anyone?). But you don’t have to build a theme park! Here’s a great example of how a maple syrup producer turned production into an experience that people pay for:

Paint Parties

This idea is nice because you can go into people’s homes to host a relaxing social gathering. Your customer gets a group of people together, you put on the music, bring the art supplies and someone opens a bottle of wine. While everyone is having a good time, they try to follow along as you paint a picture and offer them pointers as they go. At the end of the evening, everyone gets to leave with a masterpiece.

Teaching

No, not like school! Instead, hold a class that teaches people how to do a small project. One time, I took a woodworking class where I made a pen. It was really cool, and to this day is the most expensive pen I’ve ever owned (the class was pretty expensive). Do you have a skill that people wish they could learn? Would you believe that there are numerous independent businesses in the country that teach blacksmithing still? Alec Steele, in the UK, charges about $1,800 dollars for a 6-day private tool forging class and about $125 for 1 day classes with a maximum of 4 students.

Wine Tasting Parties

Do you have a superb palate? Why not host wine tasting parties at peoples’ houses to teach them the differences between the different types of wine, what they pair well with and how to spot a good wine versus a mediocre one.

Interest Based Ideas

We can’t ignore the fact that you and other people in your small town have interests. Here are some ideas to help you think of a business that can tap into your neighbors’ and your interests!

Clubs and Organizations

If there is a big enough interest in your area surrounding a cause or interest, then perhaps you can establish a club or organization to foster it in your town. You could organize a meetups and other events to help keep everyone up-to-date and spread the information about your cause. By getting enough members and sponsor organizations, you would be able to capitalize this organization and draw a salary.

Game Store

Everyone needs to have some fun time. Game stores are great for teens and adults alike. Selling their favorite card games like Magic the Gathering and miniatures games like WarHammer and providing a place for them to play sounds like a fun way to make a living.

Hobby Meets Business

Do you have a hobby that you might be able to turn into a business? One way to set yourself apart is by using locally sourced materials. For example, a woodworker might use a tree native to their area to make their creations. Not only are you selling a product, but you’re selling the story and history of your area. Make your products special by telling a story.

Paintball and Paintball Accessories

If you have an open field, then you can certainly turn it into an awesome paintball course. If you have a building and an open field, then you can also sell products too. Rentals would also be big business. Sure, most hardcore paintballers have their own gear, but they have friends that they want to hurt, and those friends need your rental gear to make it look like they stand a chance. Now, here’s a video of a guy pranking other people with his paintball gun, I’m kind of surprised he survived.

Businesses About the Town

Is your small town or area known for something? Vermont is known for maple syrup and cheese, Idaho has potatoes down pat and Florida has its oranges. What might your little corner of the world be known for? Is there a product you could make? If that business is already crowded in your town, is there a twist you can add to make it uniquely yours?

Local Foods

I touched on this a little bit in the food section, but all areas of the country are known for their foods. Some small towns even have their own specialty themselves. The example I used is how St. Augustine has the datil pepper and they sell many of their own “datil pepper” based sauces. Is there anything that your town, area or region is known for? If so, make it and sell it!

Museum

Does your town of an interesting or cool history? Nearly every town I’ve been to has some kind of interesting history, especially relating to their role in iconic wars like the Civil War. What are some of the gems of your small town’s history? How did your town go from forest or open prairie to what it is today? Is your town known for a specific industry? For example, I’ve been to towns that have very interesting train museums.

Souvenirs

If your small town depends on tourism at all, then souvenirs might be great business for you. People want keepsakes of their adventures. Making something locally, or selling something that allows people to remember their trip to your corner of the world is great business for many people, and you might be one of them. Not loving this idea? What about manufacturing souvenirs for the other shops in the area to sell?

Sports Memorabilia

Every school has a sports team. Even middle and high schools. See if you can strike up a deal with the school to manufacture their merchandise and capitalize on the town’s school spirit. Of course, it would be proper to donate to the school or pay licensing fees so you’re contributing to the school as well.

Tour Guide

Offer up tours of the local area to inform your guests of the rich history in your small town. You can team up with other local businesses to create experience packages like a wine tasting or tours of other businesses. If your town is particularly small, then walking tours might be doable. If your area is really old, then perhaps ghost tours might be a fun way to bring in some extra cash.

Seasonal Business Ideas

Many small communities are built around the industry that they primarily thrive on. One of these things is very often agriculture, but perhaps it is tourism. Below are some ideas you can use to make money when your small town is in season.

Florist

While this might be one of my more normal ideas on this list, I like the idea of selling locally grown flowers. If you have farms in your area that grow flowers, then perhaps you can get a great deal by partnering up with them rather than buying from some of the regional wholesalers who buy from auction houses that sell flowers from all over the world. Ever wonder how the floral industry works? Check this out:

Produce Stand with A Twist

My sister lived in a small town that had a small building in front of a huge apple orchard. Every year, the locals and passers-by would wait for the stand to open. They served apple cider, fresh made apple juice, apple fritters, apple doughnuts and just about anything else you could make with apples. The owner of the building was not the owner of the orchard, he would buy the apples from the orchard each year. Not a bad way to make a local living.

U-Pick Farm

I love this idea because my family frequents u-pick farms throughout the year. Basically, you grow the produce and let your customers pick it for you. They pay by the pound, you get a good price (sans labor costs) and the family gets a great price on the produce while spending some quality time together. Sounds like a win to me!

Those are my small town business ideas. If you want something a bit more futuristic, then check out my article on future business ideas.

]]>https://wealthartisan.com/small-town-business-ideas/feed/3Low Investment Business Ideashttps://wealthartisan.com/low-investment-business-ideas/
https://wealthartisan.com/low-investment-business-ideas/#commentsMon, 13 Jun 2016 01:30:30 +0000The Wealth Artisanhttp://wealthartisan.com/?p=10112You’re wondering: What kind of business can I start without a lot of money? Good news. Tons. There are several small business opportunities which require little to no upstart costs! Of course, they’ll still require time and effort. Additionally, many of the small business opportunities play to the strengths of skill sets involving computers. But wait, there’s more: I […]

There are several small business opportunities which require little to no upstart costs! Of course, they’ll still require time and effort. Additionally, many of the small business opportunities play to the strengths of skill sets involving computers.

But wait, there’s more:

I also included a section for “real world” businesses for those who may not have the best computer skills. This article will provide just a few of the many small business ideas and will briefly detail how each business venture can be low cost.

Online Low Investment Business Ideas

Consultant

Are you an expert on a subject? Then you can be a consultant to help other businesses with their problems. With Clarity.fm, you can create a profile and charge a per minute rate that people will pay to call and speak with you.

Content Creator

Whether you’re writing advertisements, articles or eBooks, content needs to be written. One area where content creation is always in high demand is in the social media sector. Creating content can be a low-cost venture because all that is really needed is a computer and a high-speed Internet connection, aside from a specific program needed for graphics (or other programming needs) that may require a startup fee. However, other than that the only thing content creation will cost is time. You can use services like TextBroker for steady business and while you’re trying to build a clientele.

Graphic Designer

If you possess the artistic capability, then there are plenty of customers that need logos, graphics and artwork for their business. Websites like 99Designs, Fiverr and DesignCrowd make it possible to start getting business quickly, but building a clientele is what will keep the lights on. The software can make things pricey, but for about $20-$50 dollars each month, you can subscribe to Adobe’s software. If that is still too steep, you can start out with free alternatives like GIMP.

Inventor

Being an inventor used to be a far-fetched goal, or a term someone used to justify being crazy. That’s no longer the case! With crowdsourcing platforms like Kickstarter and IndieGoGo, funding is now possible to just about anyone. The added benefit to this model is that if you get funded, that is a decent indicator that you might just have a market. If your idea falls flat, then it might mean you need to go back to the drawing board.

Jewelry Maker

There’s no shortage of women who want to adorn themselves in beautiful jewelry. Pair that with the growing interest in handmade products made by local artisans and you have a recipe for success. Websites like Artfire and Etsy give you a low cost marketplace to sell your creations. Check out our article on making money with Etsy.

Merchandise Flipper

Have you ever seen that show “American Pickers?” If not, here’s a quick taste:

Basically, you find interesting and valuable items at flea markets, thrift stores and just about anywhere else. You figure out what the proper value is, then you list it for sale. Sites like eBay and Craigslist give you the marketplace to move your new found goods. Forums are another great place you can sell things, as long as it is in accordance with the forum’s rules.

Musician

This isn’t the typical kind most think of. We’re not talking about becoming a hit music star. We’re talking bread and butter making a living doing what you love type of musician. From being a studio musician at a music studio to writing beats, drops and jingles for businesses. You can make a living if you have the skills to do it. With software like Reaper (very inexpensive) you can have a music production studio right on your computer. Using sites like Fiverr, you can find your first customers to get things going until you have steady business.

Product Designer

Similar to the graphic designer idea, but instead of designing things for yourself, you can design products to sell. With the help of websites like CafePress, Zazzle, SpreadShirt and RedBubble, you can have a store and products for sale in 1 day and no costs. Not too shabby!

Social Media Management

Connecting with people is an art. Some are good, some are great and others… well. You get the point. Connecting with customers on social media is something a lot of businesses don’t have time to do. The good news is, they have money and may need someone like you to manage that part of their business. Good communication skills are key as well as being up-to-date on the latest social media platforms like Instagram, Snapchat, Vine, Periscope and others. Know which platforms attract which kinds of people and how to engage communities on each one.

Teaching/Tutoring

Perfect for aspiring educators, one excellent business venture that takes very little money in terms of start-up costs is to create a virtual teaching and/or tutoring environment were a specific area of expertise or tutoring sessions can be conducted. A high speed Internet connection would be immediately required, time and effort will also be at the forefront during the startup process. Overall, the startup costs of running a virtual teaching/tutoring service carries virtually little to no costs. Alternatively, when it comes to tutoring old-school techniques (such as face-to-face) works just as well.

Technical Adviser

Learning various computer oriented tasks is always something that will be in high demand. As a result, one way that you can help out the cause is by creating tutorials based on a specific (or multiple) computer programs that will teach a given client the ins and outs of using the program to complete various tasks. Of course, the best way to reduce the startup costs involved in this type of startup is to have the programs as well as any other related program to create manuals or how-to videos. Additionally, your startup costs may also include website fees if you are planning on having a dedicated website that all your operations are conducted through. Finally, in relation to the last point an Internet/phone service may also be of great use.

Transcription

A transcriber is someone who takes audio and transcribes it into text. This sounds like a dying field, but it’s actually growing because of internet video. Let’s face it: computers still aren’t great at recognizing speech. Businesses and entrepreneurs need their videos transcribed to text for people with hearing impairment as well as search engines to know what the video is about. Additionally, you’ll get business from people who simply want their audio recordings transcribed for easier reviewing and notation. You can find work on Fiverr and Upwork to start out.

Translator

Similar to that of content creation, translation services require (at least in part) a given document that needs to be translated from one language to an entirely different one. While the skill set basically requires that the laborer be fluent in multiple languages immediate startup costs may include Internet/phone services as well as traveling expenses. Additionally, marketing expenses could also be factored into the startup costs. One note of caution: don’t do this unless you are fluent in other languages. Don’t simply try to use a service like “Google Translate.” While Google Translate is awesome, it doesn’t translate anywhere near perfect. Native speakers will easily be able to tell.

YouTube Star

OK, you don’t exactly have to be a star! But with your smartphone camera and a good topic, you can make a business out of your YouTube channel. You won’t make a million overnight, but by building up an audience, you can certainly earn a respectable income from your newfound fame. Here’s a YouTube video talking about just that:

Real World Low Investment Business Ideas

Aquarium Maintenance

People have aquariums and too little time. With the knowledge of how to take care of the different kinds of aquariums, you might be able to setup the perfect recurring business model.

Baby Sitting

More people are working multiple jobs or have both parents working. It’s just a fact of the world we live in today. If it isn’t work, then the parents might just want a night out. This is where baby sitters come in. You can even set yourself apart by ordering a background check for yourself so you can provide trustworthy proof to help parents decide.

Computer Repair

In-home computer repair is still a definite need. Between people needing to recover accidentally deleted files, or needing a part replaced to get the computer working. In-home is an added convenience you can charge for. You can also set yourself apart by offering security services to help protect your customers such as encrypting hard drives and securing wireless networks.

Concierge Services

Perfect for clients whose daily lives are far too busy to schedule running a quick errand running a concierge service can be a good business venture for someone seeking for a way to help others. While the only initial startup costs may include some low-end marketing via business cards and other forms of advertisements keeping the car gassed up on a regular basis would be the only other recurring costs involved. This is not to say, of course, that there will not be any other fees involved as it is best to set money aside for incidental incidences that may come in the form of maintenance fees and vehicle upkeep.

Courier Service

If you have a method of transportation, then you could be a courier. You can use services like Shyp to keep a steady flow of business.

Dog Walking / Pet Sitting

There’s no denying the majority of people thing very differently about their pets than they did 60 years ago. Pets are commonly considered family, and with that they get the treatment a family member deserves. Some busy pet owners might not have the time to walk their dog in the middle of the day or take care of them while away on work. That’s where you come in.

Event Planner

Planning parties and other events is another low-cost business venture that can be both rewarding and fun at the same time. In looking at the basic overview this type of business all that is required (aside from Internet costs) are organization and some attention to detail. In addition to any Internet fees factored into the startup costs event planners may be required to make other additional purchases as it relates to the planning of a particular event; one such purchase would be a dedicated phone line.

General Tasks

Using a service like TaskRabbit allows you to become an assistant to anyone. You post your profile, along with the tasks you’re good at, and people pick you to do those tasks for them. Don’t mind waiting in line? Yep, people will pay you to do that for them.

Handyman

If you know how to fix things around the house, then there are people that want to give you money. Installing ceiling fans and repairing drywall holes just might be the key to paying your bills!

Motivational Speaker

Do you have an interesting story, or something you’re very passionate about? Are you good at getting a message to some of the toughest crowds? If you aren’t afraid to get in front of groups of people then this might be perfect for you. Establishing a following on social media, and posting videos of you speaking are a great way to establish yourself first before trying to rent out and fill up speaking venues.

Moving Company

If you have an able body and willingness to put in a hard days work, then a moving company might be a good fit. You can avoid the costs of buying a truck by renting a truck until you have enough business and capital to buy your own truck. You can use services like TaskRabbit to get your initial business going.

Music Instructor

What an excellent way to give back to others through the sound of music. Initially teaching someone how to play a particular instrument can be done either for free (for the first couple lessons) in an effort to generate more exposure and market yourself. In terms of travel, fees could either include regular vehicle maintenance as well as filling up the tank but additionally this can be as simple as taking a bus, random bike, or walking when meeting a client for a lesson. Finally, one great way to minimize the startup costs is to teach lessons on the clients’ instrument (such as their guitar) versus using your own.

Personal chef

Do you possess a strong cooking skill set but are currently seeking for a way to turn your enjoyment for cooking into a business venture? If so, then becoming a personal chef is the route you take. As you may already know this particular career path would involve planning and preparing weekly/daily meals for a given client while adhering to particular nutritional values of a wide variety of different foods. In terms of start-up costs the fees are minimal at best as the majority of our cost will come from traveling expenses incurred when traveling to and from home, work, and the grocery store. Aside from that all other expenses should be covered by your client.

Personal Trainer

With a few certifications and some time, you can turn your love for fitness into your livelihood. Help motivate others to reach their fitness goals and teach them proper technique so they don’t hurt themselves. You get the satisfaction of a good workout while helping others.

Phone and Tablet Repair

Typically, this is something that would be done at a shop, but you could certainly take it mobile, especially with a service like iCracked. Many people think that if repairing a phone costs more than replacing it, then people will just replace their phone: they’re wrong. Phones contain really important data, so much so that people are willing to pay substantial money to recover the data. Phones now hold data like photos and not everyone backs everything up to the cloud!

Photographer

Despite people having amazing phones on their cameras, it is no replacement for skill and a good DSLR camera. People recognize this and still higher skilled photographers to capture important moments in their lives or for family photo shoots.

Real Estate Agent

With the proper licenses and a few people looking to buy or sell, you can get into the real estate business. Your friends and family will be a huge help in getting the word out about your new service! Don’t forget, real estate agents are also often used to promote properties that people want to rent out!

Uber Driver

With your car, smartphone and the right city, you have a way to make a living as an Uber driver. If you don’t know what that is, it’s like a taxi service but better. Here’s a video that talks about it a bit:

Vending Machine Operator

It’s true that costs are increasing due to the need of credit card readers on the machines. That doesn’t mean an enterprising individual can’t make this business still work. Starting out with cash or change only machines will still yield business, just not as much. Place your machines in places that often have a cash paying clientele such as laundromats, small diners and flea markets to start. See if the owner of the location would like a profit sharing arrangement that way you only pay money if you’re making money. You could also partner up with a local charity or cause to help incentivize business owners to put your machines in their businesses.

Lowering Business Costs

Many of the ideas on here still have costs. Software is a common cost that you may run into. That doesn’t have to be a deal-breaker though. Free and open source software is available to do many of the tasks that you might need help with. Examples include:

This article has proven there are several business opportunities that don’t require a large amount of money to start making more money. As many of the above examples have shown at most the startup costs that are most required when venturing out into the business world include traveling, and Internet/phone services. That said, there are existing business ventures that require absolutely no startup costs at all and well some form of marketing is always a plus it all depends on how elaborate the marketing techniques used really are.